Goldman Sachs Chief Economist 2024 Stock Market Prediction
Added 2024-02-27 09:45:26 +0000 UTCGoldman's chief economist, Jan Hatzius, just made an extremely interesting prediction about the stock market for the rest of 2024.
But why should you care about this dude's prediction? Odds are you never heard about him.
Well, 2 reasons come to mind:
1. He nailed the 2008 sub prime crash when most of Wall Street had no idea its coming.
2. He called soft the "soft landing" scenario, despite negative sentiment and ahead of everyone else (myself included).
Dude is legit. He isn't that well know by retail investors, but he is followed by key economic policymakers and advisors.
Bottom line: he has an optimistic outlook on the economy for this year, forecasting healthy growth, low unemployment, a low probability of recession, and a decrease in inflation. Similar to what Tom Lee was saying just a few days ago.
Recession: The probability of a US recession is much lower than commonly appreciated — at just 15% over the next 12 months.
Inflation: The hard part of the inflation fight looks over.
Interest rates: The Fed will keep rates steady until a rate cut in the last quarter of 2024.
Having said all that, remember, nobody knows what the future brings and any prediction is just a guess, so be cautious and diligent and mostly follow the marathon slow and steady mentality when investing, especially in this market.
Tom
